PepsiCo Drops $3.85 Billion on Energy-Drink Maker
On Wednesday, PepsiCo (NASDAQ: PEP) announced it had agreed to acquire Rockstar Energy Beverages for $3.85 billion. The news comes as Pepsi and rival Coca-Cola (NYSE: KO) have been trying to expand more into non-sugary sodas in recent years to keep up with shifting consumer preferences, which has weighed on the performance of consumer staples stocks.
Pepsi has distributed Rockstar's beverages in North America since 2009, but now the snack food giant has its own in-house brand to make more of a splash in the growing energy drink market. Pepsi's portfolio of energy drinks now includes Rockstar, Mountain Dew Kickstart, GameFuel, and AMP.
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Source Fool.com
